Memecoin morning of 22/5 – The 'trump' wave stands alone in a sea of red

Opening the derivatives table for the memecoin group today, the first impression is the scene of “red everywhere” except for TRUMP, the token dominating the spotlight with +9% price, futures volume booming at +117%, and OI +25%. Meanwhile, almost everyone else is retreating: MOODENG down −4.2%, vol −36.5%; PNUT −2.2%, vol −29.9%; SHIB −1.97%, vol −26.8%.

The specific developments show:

- TRUMP: a large influx of capital, funding +0.008%, meaning longs are willing to bear the costs. OI increases sharply indicating a strong defense of long positions. This could be a squeeze of previous shorts, or simply the only memecoin still trading actively while the overall market stagnates.

- DOGE remains the leader in liquidity (4.7 billion USD) but vol decreases nearly 8% and price loses −0.3%. OI +0.8% indicates traders are still holding positions, but buying momentum has weakened.

- FARTCOIN, POPCAT, WIF have slightly reduced vol and weakly increasing OI — a sign of capital withdrawal but not a complete exit yet.

- PEPE, 1000BONK, MOODENG, PNUT both vol and OI decrease together, indicating that both spot and futures have lost interest. This situation often leads to a liquidation wave when BTC or the overall market loses momentum.

Perspective and strategy

Currently, I am not buying new DOGE or PEPE due to low volume. With TRUMP, if the price holds above 14.1 and OI continues to rise along with stable funding, one might consider a long exploratory position with a 5% stop-loss. For the remaining group, I prioritize waiting for volume recovery signals (≥10%) before opening any long positions.

Shorting tired altcoins should be avoided when futures are liquidating margin. During this phase, maintaining positions and observing new capital flow signals is the most important thing.

[Note: Personal analysis, not investment advice.]